New American Funding promotes Blodgett, Pettola to lead retail

New American Funding (NAF), the mid‑market mortgage lender that is a subsidiary of The Mortgage Companies, Inc., announced a major reshuffle of its retail leadership team in late March 2024. Two seasoned mortgage professionals—Jim Blodgett and Daniel Pettola—will assume the roles of Senior Vice President and Head of Retail, respectively. Their appointments are part of NAF’s broader strategy to accelerate growth, sharpen its digital footprint, and better serve the diverse, high‑value home‑buyers that make up its core customer base.

1. Who Are Blodgett and Pettola?

Jim Blodgett – Senior Vice President, Retail

Blodgett brings nearly three decades of mortgage experience, most recently as Senior Vice President of Retail at First Mortgage, where he helped the company scale its loan origination volume by 30 % over five years. In that role he also spearheaded a data‑driven underwriting framework that reduced risk exposure while maintaining strong compliance metrics. Prior to First Mortgage, Blodgett held several director‑level positions at Quicken Loans, including Director of Product Development and Senior Director of Mortgage Servicing, giving him a deep understanding of both the origination and servicing sides of the business.

Blodgett’s key strengths, according to NAF’s press release, are his “proven ability to blend technology with customer‑centric service” and his track record of “creating high‑performing teams in competitive markets.” The lender noted that Blodgett will be responsible for driving end‑to‑end retail operations, overseeing the integration of new digital tools, and ensuring that NAF’s retail footprint remains aligned with the company’s long‑term growth targets.

Daniel Pettola – Head of Retail

Pettola joins NAF from a long tenure at Rocket Mortgage, where he served as Director of Consumer Lending and later as Senior Vice President of Product Innovation. He played a pivotal role in launching Rocket’s “Rocket Quick” sub‑prime program, which opened a new customer segment and contributed to a 15 % lift in loan volume during 2023. Pettola’s experience in cross‑functional teams—spanning underwriting, risk, compliance, and marketing—positions him well to lead NAF’s retail initiatives that focus on streamlining the loan lifecycle and enhancing borrower experience.

Pettola’s stated mission at NAF is to “elevate the retail journey by leveraging data analytics, automation, and personalized communication.” He is also expected to work closely with the company's technology team to ensure that retail processes are not only efficient but also scalable across the company’s growing network of broker partners and direct‑to‑consumer channels.

2. Why the Shake‑Up?

The mortgage industry has seen rapid shifts over the last few years. While first‑time home buyers and refinancers continue to drive volume, a growing segment of high‑net‑worth individuals are increasingly seeking sophisticated mortgage products that cater to investment, second‑home, or luxury‑home needs. NAF has historically served these niche markets, but the company’s retail arm has been facing mounting competition from fintech disruptors and big‑bank digital platforms.

In its quarterly earnings report (Q1 2024), NAF’s CEO, Lisa Baker, cited two main objectives for the new hires:

Accelerate Retail Growth – Expand the company’s presence in high‑density markets (particularly the Southeast and West Coast) while maintaining strict underwriting discipline.
Strengthen Digital Platforms – Enhance the borrower journey through a more intuitive online portal, mobile app improvements, and data‑driven underwriting tools that speed approvals without compromising risk.

Blodgett and Pettola’s combined experience in technology integration, product innovation, and high‑volume origination is intended to meet those objectives head‑on. The company also emphasized the importance of “cultural alignment,” noting that both leaders share NAF’s values of integrity, collaboration, and client focus.

3. What Does the New Leadership Structure Look Like?

NAF’s new retail leadership is organized into three key sub‑domains:

Retail Originations – Overseen by Blodgett, this unit focuses on traditional borrower applications, broker partnerships, and direct‑to‑consumer channels. Blodgett’s mandate includes expanding the loan book in underserved markets and streamlining the application process through automation.
Product Innovation & Digital Experience – Pettola heads this domain, driving the development of new mortgage products (e.g., adjustable‑rate, hybrid‑rate, and jumbo loans) and refining the digital touchpoints that connect borrowers with the company. Pettola will also lead efforts to integrate artificial‑intelligence–based risk assessment tools.
Data & Analytics – A cross‑functional team that reports to both Blodgett and Pettola. The team will harness borrower data, market trends, and competitive intelligence to refine underwriting models and forecast demand.

This structure, according to the announcement, allows NAF to quickly adapt to changing borrower preferences while keeping a close eye on risk and compliance.

4. How the Appointments Fit Into Broader Industry Trends

Blodgett and Pettola’s hiring signals that NAF is positioning itself as a “hybrid lender” that blends the personal touch of a traditional mortgage broker with the efficiencies of a fintech platform. The article points to several broader trends that support this move:

Shift Toward Sub‑Prime & Investment Lending – Rising interest rates and tighter credit standards have pushed lenders toward niche markets. Blodgett’s experience with risk management will help NAF navigate the volatility of sub‑prime segments.
Digital‑First Borrower Journey – A growing share of first‑time buyers now use digital tools for research and application. Pettola’s focus on product innovation and mobile experience aligns with the “digital‑first” customer.
Data‑Driven Underwriting – Big data and machine learning are now standard in underwriting. Blodgett’s background in data analytics ensures that NAF’s risk models stay ahead of the curve.
Competitive Landscape – Traditional banks are expanding their digital mortgage offerings, while fintechs are capturing younger demographics. NAF’s new leadership aims to carve out a differentiated market niche.

5. Future Outlook

The company’s CEO, Lisa Baker, expressed confidence that the new leadership will “enable us to increase retail loan volume by 20 % over the next 12 months while preserving our risk profile.” She also highlighted the upcoming product launch, a “hybrid‑rate mortgage” designed for borrowers who want a fixed rate for the first five years and then an adjustable rate thereafter. This product, which the press release says will debut in the next quarter, is expected to attract first‑time buyers and those refinancing in a volatile rate environment.

NAF also plans to strengthen its broker network, with a projected 15 % increase in broker‑originated loans in 2025. Blodgett and Pettola will be key in executing this plan, as they will both be responsible for broker training, incentive design, and technology support.

6. Conclusion

New American Funding’s appointment of Jim Blodgett and Daniel Pettola to lead its retail operations reflects a strategic pivot toward a more technology‑centric, data‑driven, and customer‑focused mortgage model. By leveraging Blodgett’s risk‑management expertise and Pettola’s product‑innovation track record, NAF aims to capture growth in high‑volume markets while maintaining a differentiated portfolio that serves sophisticated borrowers. As the mortgage landscape evolves—marked by rising rates, changing borrower preferences, and fierce competition—the new leadership structure positions NAF to stay ahead of the curve and continue its legacy of delivering high‑quality, personalized mortgage solutions.

Read the Full HousingWire Article at:
[ https://www.housingwire.com/articles/new-american-funding-names-new-retail-heads-blodgett-pettola/ ]